Biotech Values

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Evolus price target raised to $30 after executive hirings at JMP Securities

After Evolus (EOLS) announced that it hired Lauren Silvernail, formerly the CFO at Revance Therapeutics (RVNC), to be its own CFO, JMP Securities analyst Donald Ellis noted this was the second hiring by the company of a C-suite executive from a major competitor after the company had previously hired CEO David Moatazedi from Allergan (AGN).

The analyst, who contends that both Moatazedi and Silvernail "have voted with their feet for the winner in the aesthetic toxin market," Increased his view of the probability of approval for DWP-450 to 100% from 80%, which drove up his price target on Evolus shares to $30 from $22.

Ellis maintains his Outperform rating on Evolus. 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup

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https://thefly.com/landingPageNews.php?id=2737581

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